Bitcoin farm in Siberia, created by a Russian oil company



A functional Bitcoin mining farm has been what Russian oil company Gazpromneft has decided to add to its oil drilling field in Siberia. The company has begun to take advantage of its carbon dioxide emissions to use as an energy source on cryptocurrency mining platforms.

While it may be an unusual combination, this initiative represents an attempt by the company to recover wasted energy and use it in favour of transforming it into a lucrative cryptocurrency.

One of the characteristics that are part of the oil drilling process is the release of flammable gases such as methane. These gases are usually burned by oil companies to prevent them from reaching the atmosphere, a situation that generates the expulsion of large flames.

In the end, it seeks to convert methane into carbon dioxide, which is a less harmful greenhouse gas. However, this whole process generates waste of energy and heat, elements that Gazpromenft seeks to take advantage of to generate cryptocurrency.



It should be noted that this is not the first time that such a project has been carried out by a company such as Gazpromneft, since last year a natural gas company in the United States took the initiative to open similar facilities using the energy resulting from the elimination of gases to support data centres, including Bitcoin farms.

While the company provides the infrastructure to carry out mining operations, this work is being done by mining companies that send their equipment to these facilities in Siberia to generate their own Bitcoin.

So far the system seems to be delivering favourable results. This, because a Russian company generated in one month 1.8 Bitcoin equivalent to 50 thousand dollars, obtained from the burning of 49,500 cubic meters of surplus gas.

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